How To Improve Employee Retention in the Healthcare Industry

As an investor in the healthcare industry or a healthcare provider, understanding what employees want helps keep them happy and motivated. Employees are your direct link to the clients. When they are unsatisfied, tired, bored, and unmotivated, they won’t do their job well, leading to lost business opportunities. As you continue to focus on offering patients excellent care, here are some ways to improve employee retention as well.

Understand What Employees Want

Take time to know what your employees want and value. Perhaps one of their main concerns is the availability of efficient equipment or the ability to work remotely. To understand your employees’ needs, get to know them individually, and promote a team spirit. Work to accommodate their needs, and they’ll reward you with loyalty and dedication. To help get to know your employees better:

• Have a monthly team meeting
• Encourage participation with a reward for those who contribute ideas that improve patient care or company performance
• Give your employees the freedom to speak their minds
• Nurture an open door policy

When you create an environment where employees feel comfortable and can freely voice their concerns, they’ll work harder for your company.

Outsource More

Outsourcing some of your less essential tasks may be the best option for your company. For example, outsourcing transcription opens the door for more cost-effective and efficient services. Employees will not be tied up doing admin, tedious and repetitive tasks.

Outsourcing ensures that your team is not overworked and can concentrate on critical tasks such as improving patient care or providing superior customer service. It also means that you don’t have to invest in a more extensive facility or pay additional employee benefits.

For instance, hiring a virtual medical receptionist for your billing department will free up your employees to focus on their core tasks. The assistant can work remotely, enabling the organization to save time and money.

Offer Competitive Pay and Benefits

People want adequate compensation for their work, so make your employees feel valued by offering competitive salaries. If your competition offers a higher wage for the same job, you may lose valuable employees.

As a practice owner, survey your employees regularly and identify understaffed departments or hard-to-fill positions. Make amends by offering competitive salaries and benefits to attract and retain loyal and skilled employees. Also consider offering:

• Merit-based promotions
• Paid training programs
• Opportunities for career growth

Also, as a healthcare provider or employer, be aware of the benefits your competitors are offering. For example, you may invest in health or wellness incentives such as discounted gym memberships or yoga classes.

When the employee turnover is high, try to find out the root cause. Is it that you’re not offering competitive pay? Are there other issues that discourage employees from staying at the facility?

Create a Positive Work Environment

Employers need to provide a conducive work environment where everyone feels valued, appreciated, and happy to come to work every day. Ensure that your employees feel secure by taking steps such as implementing a safe working environment, fair disciplinary policies, and transparent company goals.

When employees feel valued, they enjoy coming to work. It boosts their morale and motivates them to do well. To maintain a positive work environment:

• Meet your employees’ physical needs by providing ergonomic chairs
• Combat stress by offering reduced workloads when employees feel overwhelmed
• Establish a reward program for high performers, such as gift cards or paid time off
• Encourage collaboration, teamwork, and transparency

Additionally, create an environment where staff members can talk about their personal lives and even get advice or solutions. You can do this by organizing activities that bond the team members, such as family picnics, staff retreats, or themed days.

Promote Professional Development Opportunities

82% of workers confess they can quit their job because of a lack of career development or growth opportunities. Lack of progression kills the excitement and makes work meaningless. To retain employees, offer in-house or external training programs to help them progress in their careers. This step will instill a sense of personal fulfillment and confidence. Ways to promote this include:

• Promoting opportunities for growth such as leadership development, clinical ladder programs, and online medical courses
• Encouraging lifelong learning by offering educational support such as reimbursement for tuition or books

Offer employees the autonomy to make decisions, especially when handling projects or procedures. Remember that adequate training will help them learn new skills. However, assign them manageable tasks they will be able to complete independently. This way, you’ll boost employee motivation as they build confidence to grow.

Additionally, take time to understand individual performance and expectations. Set up regular one-on-one meetings with your employees to create a dialogue that will help you get to know each other better. Besides this, offer constructive feedback so they can work on their areas of weakness.

Address Concerns and Provide Feedback Promptly

Create a feedback culture by conducting surveys and listening to the concerns of your employees. Additionally, incentivize employees by highlighting their efforts in meetings. This will encourage them to work harder and be more productive.

For example, if an employee has consistently stayed late to complete their tasks, you can acknowledge their efforts with a bonus or promotion. Additionally, if a particular employee suddenly slacks or is performing below expectations, give them a chance to state their case and fix the problem. Be open-minded and try to work things out.

Reward Employees for Their Hard Work

A pay package shouldn’t be the only way to reward employees. Incentives such as bonuses, paid days off, or a lunch with the CEO will make your employees feel valued, giving them a sense of accomplishment.

You can also try a fun reward such as a scavenger hunt or a trip to the water park. Have a reward system that acknowledges an employee’s efforts rather than just their output. Has a particular employee been working extra hard and is often working late at the office to complete projects? Consider giving them a gift card for pizza or coffee to appreciate their dedication.

Encourage Work-Life Balance

Work-life balance is a critical part of career development. It’s important to set work hours and stick to them. Employees should have time for themselves, with family or friends. To promote a work-life balance, suggest employees go on vacation or ask about their plans. Doing so will help you understand if they plan to take time off soon.

You can also have a flexible work schedule to finish tasks even if they have to work from home or on the weekend. Other ways to encourage a work-life balance are:

• Encourage and empower remote work
• Support parents more
• Provide health cash plans
• Encourage breaks, for instance, not working over the weekends or on holidays
• Regularly review workloads
• Offer a discount to the gym or provide on-site fitness programs
• Offer discounts for child care and housekeeping services
• Focus more on productivity rather than hours spent at the office

Hire the Right Staff From the Start

Hiring right ensures that employees have the skills they need to succeed. This will reduce downtime and let your employees focus on their tasks instead of learning a new skill. Make sure job candidates understand your organization and its purpose.

Because interviewing job candidates can be time-consuming, use skills tests to help understand the candidate’s capabilities. Hiring the right people from the start increases productivity, keeps employees motivated, reduces burnout, and ultimately saves money.

Working on Employee Experience Is Good for Everyone

Many employees resign every year due to the increased stress at work, a lack of motivation, or limited growth opportunities. Improving their experience will play an essential role in building a motivated workforce.

By focusing on employee retention, you’ll lower the turnover rate, reduce hiring and onboarding costs, and increase productivity. Take time to understand the needs of your employees, address concerns immediately and reward them for their hard work.